Bandwidth (NASDAQ:BAND) CFO Daryl Raiford Sells 17,026 Shares

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 17,026 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $15.47, for a total transaction of $263,392.22. Following the completion of the transaction, the chief financial officer directly owned 52,745 shares of the company’s stock, valued at approximately $815,965.15. This trade represents a 24.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Bandwidth Trading Down 2.0%

Shares of BAND stock opened at $14.93 on Tuesday. The stock has a market capitalization of $468.65 million, a price-to-earnings ratio of -34.72 and a beta of 2.14. The company’s fifty day simple moving average is $14.24 and its two-hundred day simple moving average is $15.05. Bandwidth Inc. has a 1 year low of $11.33 and a 1 year high of $18.63. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.42.

Wall Street Analyst Weigh In

BAND has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, January 21st. B. Riley Financial assumed coverage on Bandwidth in a research report on Friday, January 23rd. They set a “buy” rating and a $20.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Bandwidth from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.60.

Institutional Investors Weigh In On Bandwidth

A number of institutional investors and hedge funds have recently made changes to their positions in BAND. Tower Research Capital LLC TRC grew its position in Bandwidth by 183.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company’s stock worth $60,000 after buying an additional 2,445 shares in the last quarter. State of Wyoming bought a new position in Bandwidth in the 3rd quarter worth about $71,000. Raymond James Financial Inc. purchased a new stake in shares of Bandwidth in the 2nd quarter valued at about $85,000. Harbor Capital Advisors Inc. raised its holdings in shares of Bandwidth by 30.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company’s stock valued at $125,000 after acquiring an additional 1,748 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Bandwidth in the 2nd quarter valued at about $128,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Bandwidth Company Profile

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.